Abrdn has adopted Origo's Unipass Mailock, a secure email service which works with the Unipass identity system to help keep provider and advisers' email communications safe.
Financial technology firm Origo said that more organisations were in discussions about implementing the service later this year, demonstrating a growing awareness about the need for email security to protect against the threat of cybercrime.
Origo's Unipass Mailock service uses advanced encryption to protect the email in transit and to ensure both the sender and recipient can authenticate each other's identity, whilst also providing an audit trail for compliance purposes
The service has already protected over 2.5 million email communications for providers, advisers and their clients, according to Origo.
Chief executive Anthony Rafferty said: "The threat of cybercrime cannot be understated and emails, which we use every day as individuals and companies, are vulnerable messaging systems if they are not properly secured.
"We are seeing a growing number of providers looking to add our encrypted email system as part of their operations and service to customers."
Abrdn managing director sales adviser Russell Bignall said: "Unipass Mailock enables Abrdn to quickly, easily and securely send emails and documents to the advisers we work with.
"We are saving advisers money by simply reducing their print and post overheads."
Rafferty added: "The need for encrypted email security is growing all the time. Cybercrime of all types is now a major industry. Key for criminals is having information about their victims, which they then use for scamming, identity theft or other means to steal from individuals and companies.
"One quick and easy way for criminals to obtain the information they need is to hack vulnerable email systems. They can employ sniffer programs which identify valuable emails and take copies of them, which the criminals can then exploit. In just one email in which a financial services client sends their personal and asset details to their financial adviser or product provider, there would be enough detail to help criminals commit identity theft or fraud.
"Base-level security for product providers and financial advice firms now has to be using a secure, encrypted email system, one which protects emails in transit, and ensures that only the intended recipient can access the email. Without a doubt, this must be used where confidential and transactional data is being sent.
"In addition, in a market where banks and other financial services companies are warning consumers about cybercrime, having a secure email messaging system in place adds value and greater peace of mind for customers by demonstrating that the provider or advice firm they are dealing with is taking precautions to safeguard their data."
